Recessions are often portrayed to be all doom and gloom. For businesses, it often means dismal income statements and profit margins. This prompts many business owners to succumb to knee-jerk reactions. One of which is to implement aggressive pricing incentives and cost cutting measures in the hopes of riding it out.
As ominous as it might seem, recessions are not just about business threats. Amid poor market sentiments, they are also times for business opportunities. While being conservative is sometimes the best approach, business owners can also take the road less travelled by pursuing growth more aggressively than before.